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💥 Bitcoin is Pushing Back Over the $105,000 Range

7 min readJun 9, 2025

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Hello dear subscribers! Today we’ll be talking about the DeFi Index and other AI projects. But that’s not all, in today’s bulletin, we are covering:

  • Surfing the Market, with DeFI Index and FET analysis.
  • Don’t miss the News about Dubai’s real estate tokenization boom and Cetus Protocol’s relaunch.
  • Avantis is under the spotlight.
  • A short article about Corporate Strategies: Poison Pill, Buybacks & More.

Let’s tracking closely the DeFi Index, which after 2 weeks of consolidation is pushing with strength looking for the breakout on the downtrend channel.

FET not giving up and bouncing over the key 72 cents support, looking for the breakout on the local downtrend resistance.

Dubai Real Estate Sales Hit $18.2B Amid Tokenization Boom

Dubai’s property market hit AED 66.8 billion (≈ $18.2 billion) in May 2025 as tokenization momentum accelerates, marking a 44% year-on-year surge in value and a 6% rise in transaction count. Primary and secondary market gains combined with major regulatory moves signal Dubai’s readiness for blockchain-based real estate. Industry leaders see this as a launchpad for fractionalized property ownership.

Highlights:

  • Record Sales Volume: AED 66.8 billion across 18,700 deals, up 44% in value and 6% in transaction count year-on-year.
  • Primary Market Boom: Primary sales value spiked 314% compared to May 2024, driving overall growth.
  • Secondary Market Uptick: Secondary transactions rose 21% in value year-on-year, reflecting broad investor demand.
  • Regulatory Backing: A $3 billion RWA blockchain deal and VARA’s new tokenization guidelines provide a clear framework for tokenized real estate.

Cetus Protocol Restarts After $223M Sui DEX Exploit

Cetus Protocol, the Sui- and Aptos-based decentralized exchange, officially relaunched on June 8, 2025, after recovering from a $223 million exploit on May 22, restoring most of its liquidity pools and outlining a path forward.

Highlights:

  • Platform Relaunch: Cetus Protocol resumed full operations on June 8, relaunching its DEX after emergency maintenance and recovery efforts following the May 22 hack.
  • Major Recovery Effort: By freezing $162 million via Sui validators, drawing on $7 million in treasury reserves, and securing a $30 million USDC loan from the Sui Foundation, Cetus restored 85–99% of drained liquidity pools.
  • Open-Source Roadmap: The team announced plans to fully open-source the protocol’s codebase and launch a white-hat bounty program to encourage community-driven security enhancements.
  • Legal & Governance Actions: Cetus has initiated legal proceedings across multiple jurisdictions and passed a community governance vote to unlock and return frozen attacker funds as part of its compensation framework.

Project Research: Avantis

The Origins:

Avantis is a decentralized perpetuals exchange built on the Base network. Launched in early 2024, it offers leverage trading across traditional assets (forex, commodities) and cryptocurrencies, aiming to unite global macro markets with DeFi mechanisms.

The Operative:

  • Avantis employs a modular design supporting on-chain perpetuals with customizable risk management and real-world assets:
  • Synthetic vAMM Engine: Provides zero slippage on BTC trades and access to leverage up to 100× on crypto and RWA perp markets.
  • Risk Tranches for Liquidity Providers: LPs choose from junior or senior vaults, allowing risk segmentation and tailored returns.
  • Loss Rebates & Positive Slippage: Meta-incentives offered when trades help balance platform skew.
  • XP Loyalty Program: Avantis XP tracks on-chain activity (trading & LP) to reward engagement under the DAO roadmap.
  • Zero-Fee Perpetuals (ZFP): Beta launched in Q2 2025, allowing users to trade BTC, ETH, SOL perpetuals with fees only paid on profits.
  • Avantis SDK: Developer-facing API enabling building tools such as arbitrage bots, RWA trading agents, and more.

A native token named $AVNT is planned, for now no issuance date or circulation metrics have been announced yet. Early user rewards are currently managed through the XP program.

Funding & Investors:

Avantis has raised $12 million in diferent funding rounds led by Pantera, Galaxy, Founders Fund Base, Modular, Symbolic, Flowdesk, SALT alongside Base.

  • The project faces competition from different fronts:
  • Perp-focused protocols: GMX, Perp v2, Gains.
  • RWA-enabled platforms: Synthetix (with commodities), Opium Network, UMA.
  • Layer 2 derivatives: dYdX, with focus on margin and options.

The DeFi space is increasingly blending leverage trading with real-world assets and advanced UX incentives. Platforms that incorporate modular risk controls, real-world asset access, and loyalty mechanisms are emerging as focal points in the evolution of on-chain derivatives infrastructure.

Corporate Strategies: Poison Pill, Buybacks & More

There are certain corporate terms (stock market-related) that aren’t very well known in the crypto space. While we could ask why we should even care, the reality is that with Circle (creator of USDC) now listed on the NYSE, along with Coinbase and Strategy, the paths of both markets are becoming more and more intertwined, and it’s time we start learning about both worlds.

In the corporate world, companies use a variety of tools to protect themselves or influence the price of their stock. Today, we’ll review some of the most common (and controversial) ones.

Poison Pill

A poison pill is a defensive strategy that companies activate to avoid a hostile takeover.

How does it work? If a buyer tries to acquire a significant stake in the company, the company issues a large number of new shares, diluting the buyer’s stake and making the acquisition much more expensive.

In 2022, Twitter implemented a poison pill when Elon Musk attempted to buy the company, before the deal was ultimately completed.

The use of a poison pill often signals that a company’s leadership is not willing to give up control, even if there’s significant external interest. It also puts pressure on the potential buyer to increase their offer or negotiate on different terms. For traders, it can create volatility and opportunities as the market reacts to the takeover battle.

Buybacks (Share Repurchases)

When a company buys back its own shares on the open market, it reduces the total number of shares in circulation. This typically:

  • Increases EPS (earnings per share).
  • Creates upward pressure on the stock price.
  • Signals that the company believes its stock is undervalued.
  • It can also be a sign of “financial health” and a way to manipulate financial ratios without improving the actual business.

Buybacks can act as a hidden force pushing prices higher during otherwise flat or bearish markets. For long-term investors, consistent buyback programs can be seen as a positive signal. However, if a company overuses buybacks while neglecting innovation or growth, it can be a red flag masked by short-term stock performance.

Other Defensive Strategies

  • Golden parachute: large payouts to executives if they are fired after an acquisition.
  • White knight: the company seeks a “friendly buyer” to save it from a hostile takeover.
  • Dual-class shares: shares with different voting rights, used to maintain control even after selling shares to the public.

These defensive tools shape how power is distributed inside companies. Dual-class shares, for example, have allowed founders of companies like $META (formerly Facebook) and $GOOGL to retain decision-making power despite selling large portions of their companies to the public. For traders, understanding these structures helps explain why some companies are resistant to change, even when large shareholders want it.

Why does this matter?

These moves directly impact stock price behavior, investor confidence, and the balance of power within a company.

Understanding them helps you read beyond the charts and anticipate moves that are often driven by strategy, not just technicals.

And with more crypto-related companies entering traditional markets, knowing these mechanisms gives you an edge in spotting hidden dynamics that could influence price action.

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Crypto Rand
Crypto Rand

Written by Crypto Rand

Investor & Trader. Co-Founder of RR2 Capital. Teaching at TradingDoji.

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